King & Wood Mallesons (KWM) has acted for the lenders to bring the 244 MW Bango Wind Farm (Bango) project to financial close.
KWM advised Westpac Banking Corporation, Commonwealth Bank of Australia, Oversea-Chinese Banking Corporation Limited and Sumitomo Mitsui Banking Corporation on the $250 million debt facility for the design, construction and operation of the wind farm.
Situated in the NSW Southern Tablelands, Bango is expected to generate enough electricity to power more than 100,000 homes and reduce greenhouse gas emissions by more than 600,00 tonnes every year. It will do this using the GE Cypress 5.3MW turbines, a world-first and the largest onshore wind turbines in production.
The KWM team acting on the deal was led by partner, Claire Rogers. Claire was supported by senior associate, Chris Allfrey, solicitors Priscilla Hetjmanek and Shareen Dhillon and graduate, Lily Rayment.
Commenting on the project Claire said: “We are pleased to have successfully brought Bango Wind Farm to financial close, an innovative project using the world’s largest onshore wind turbines in production that will add an additional 244 MW to the grid.
“Given the uncertainty surrounding renewable energy in Australia at the moment it is great to demonstrate that a strong investment and lender interest still exists in the market,” she continued.
KWM is a leading firm in the renewables space, having recently advised on the financing of the Sapphire Wind Farm and Crudine Wind Farm projects, which were also developed by the same project sponsors.